durite limited
durite limited Company Information
Company Number
00373113
Website
www.durite.co.ukRegistered Address
durite works valley road, dovercourt, essex, CO12 4RX
Industry
Wholesale trade of motor vehicle parts and accessories
Telephone
01255555200
Next Accounts Due
September 2025
Group Structure
View All
Shareholders
safe fleet uk limited 100%
durite limited Estimated Valuation
Pomanda estimates the enterprise value of DURITE LIMITED at £12.5m based on a Turnover of £25.4m and 0.49x industry multiple (adjusted for size and gross margin).
durite limited Estimated Valuation
Pomanda estimates the enterprise value of DURITE LIMITED at £38.9m based on an EBITDA of £6.6m and a 5.93x industry multiple (adjusted for size and gross margin).
durite limited Estimated Valuation
Pomanda estimates the enterprise value of DURITE LIMITED at £51.8m based on Net Assets of £20.6m and 2.51x industry multiple (adjusted for liquidity).
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Durite Limited Overview
Durite Limited is a live company located in essex, CO12 4RX with a Companies House number of 00373113. It operates in the wholesale trade of motor vehicle parts and accessories sector, SIC Code 45310. Founded in March 1942, it's largest shareholder is safe fleet uk limited with a 100% stake. Durite Limited is a mature, large sized company, Pomanda has estimated its turnover at £25.4m with healthy growth in recent years.
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Durite Limited Health Check
Pomanda's financial health check has awarded Durite Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 7 measures and has 3 areas for improvement. Company Health Check FAQs
7 Strong
2 Regular
3 Weak
Size
annual sales of £25.4m, make it larger than the average company (£16.6m)
£25.4m - Durite Limited
£16.6m - Industry AVG
Growth
3 year (CAGR) sales growth of 13%, show it is growing at a faster rate (8.8%)
13% - Durite Limited
8.8% - Industry AVG
Production
with a gross margin of 40.8%, this company has a lower cost of product (29%)
40.8% - Durite Limited
29% - Industry AVG
Profitability
an operating margin of 25.1% make it more profitable than the average company (5.9%)
25.1% - Durite Limited
5.9% - Industry AVG
Employees
with 83 employees, this is above the industry average (53)
83 - Durite Limited
53 - Industry AVG
Pay Structure
on an average salary of £40.6k, the company has an equivalent pay structure (£37.1k)
£40.6k - Durite Limited
£37.1k - Industry AVG
Efficiency
resulting in sales per employee of £306.4k, this is equally as efficient (£269.6k)
£306.4k - Durite Limited
£269.6k - Industry AVG
Debtor Days
it gets paid by customers after 96 days, this is later than average (53 days)
96 days - Durite Limited
53 days - Industry AVG
Creditor Days
its suppliers are paid after 15 days, this is quicker than average (39 days)
15 days - Durite Limited
39 days - Industry AVG
Stock Days
it holds stock equivalent to 163 days, this is more than average (104 days)
163 days - Durite Limited
104 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 51 weeks, this is more cash available to meet short term requirements (9 weeks)
51 weeks - Durite Limited
9 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 14.9%, this is a lower level of debt than the average (49.4%)
14.9% - Durite Limited
49.4% - Industry AVG
DURITE LIMITED financials
Durite Limited's latest turnover from December 2023 is £25.4 million and the company has net assets of £20.6 million. According to their latest financial statements, Durite Limited has 83 employees and maintains cash reserves of £3.4 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Dec 2023 | Dec 2022 | Dec 2021 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 | Mar 2014 | Mar 2013 | Mar 2012 | Mar 2011 | Mar 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 25,434,794 | 22,413,821 | 16,557,023 | 19,146,765 | 17,480,415 | 16,401,486 | 14,968,191 | 14,225,674 | 12,733,713 | 11,695,225 | 10,856,855 | 10,416,890 | 10,292,426 | 9,897,157 | 9,048,017 |
| Other Income Or Grants | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost Of Sales | 15,068,413 | 13,612,013 | 10,208,325 | 12,736,018 | 11,163,248 | 10,489,139 | 9,479,163 | 8,877,019 | 8,066,037 | 7,138,001 | 6,712,603 | 6,177,718 | 5,877,702 | 5,631,584 | 5,301,132 |
| Gross Profit | 10,366,381 | 8,801,808 | 6,348,698 | 6,410,747 | 6,317,167 | 5,912,347 | 5,489,028 | 5,348,655 | 4,667,676 | 4,557,224 | 4,144,252 | 4,239,172 | 4,414,724 | 4,265,573 | 3,746,885 |
| Admin Expenses | 3,974,111 | 3,541,603 | 2,320,621 | 16,598,976 | 2,417,897 | 2,108,110 | 2,471,214 | 3,248,367 | 1,862,277 | 1,582,665 | 1,676,671 | 3,547,639 | 1,889,717 | 1,955,663 | 1,876,467 |
| Operating Profit | 6,392,270 | 5,260,205 | 4,028,077 | -10,188,229 | 3,899,270 | 3,804,237 | 3,017,814 | 2,100,288 | 2,805,399 | 2,974,559 | 2,467,581 | 691,533 | 2,525,007 | 2,309,910 | 1,870,418 |
| Interest Payable | 0 | 0 | 0 | 65,832 | 114,420 | 130,167 | 247,375 | 206,479 | 208,992 | 192,404 | 14,454 | 5,986 | 32,288 | 59,008 | 1,685 |
| Interest Receivable | 150,747 | 2,614 | 636 | 1,384 | 1,574 | 2,271 | 6,025 | 448 | 1,622 | 710 | 8,930 | 7,204 | 4,820 | 5,443 | 5,858 |
| Pre-Tax Profit | 6,543,017 | 5,262,819 | 4,066,103 | -10,359,503 | 3,845,709 | 3,753,853 | 2,697,804 | 1,894,257 | 2,598,029 | 2,785,074 | 2,467,257 | 727,751 | 2,511,539 | 2,220,345 | 1,762,591 |
| Tax | -950,114 | -619,428 | -533,354 | -419,710 | -723,862 | -689,139 | -513,295 | -554,021 | -420,984 | -388,814 | -607,185 | -268,062 | -601,874 | -701,453 | -494,262 |
| Profit After Tax | 5,592,903 | 4,643,391 | 3,532,749 | -10,779,213 | 3,121,847 | 3,064,714 | 2,184,509 | 1,340,236 | 2,177,045 | 2,396,260 | 1,860,072 | 459,689 | 1,909,665 | 1,518,892 | 1,268,329 |
| Dividends Paid | 15,838 | 1,868,151 | 1,670,000 | 0 | 1,000,000 | 0 | 1,000,000 | 0 | 0 | 0 | 2,564,433 | 0 | 0 | 0 | 5,000,000 |
| Retained Profit | 5,577,065 | 2,775,240 | 1,862,749 | -10,779,213 | 2,121,847 | 3,064,714 | 1,184,509 | 1,340,236 | 2,177,045 | 2,396,260 | -704,428 | 459,689 | 1,909,665 | 1,518,892 | -3,731,671 |
| Employee Costs | 3,366,266 | 3,192,333 | 2,459,842 | 4,972,911 | 2,820,917 | 2,705,623 | 2,524,228 | 2,633,236 | 2,333,213 | 2,062,283 | 1,947,520 | 2,176,658 | 1,900,194 | 1,922,497 | 1,833,581 |
| Number Of Employees | 83 | 82 | 82 | 79 | 78 | 76 | 74 | 78 | 79 | 73 | 77 | 78 | 75 | 72 | 71 |
| EBITDA* | 6,563,133 | 5,417,203 | 4,135,753 | -10,057,787 | 4,013,800 | 3,906,403 | 3,106,266 | 2,173,682 | 2,866,859 | 3,022,983 | 2,518,712 | 747,667 | 2,568,706 | 2,354,498 | 1,925,872 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Dec 2023 | Dec 2022 | Dec 2021 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 | Mar 2014 | Mar 2013 | Mar 2012 | Mar 2011 | Mar 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 1,595,655 | 1,529,431 | 1,592,817 | 1,355,325 | 1,200,970 | 1,194,438 | 1,047,649 | 1,037,171 | 1,018,476 | 1,014,295 | 959,634 | 523,998 | 494,154 | 585,145 | 626,174 |
| Intangible Assets | 276,555 | 217,313 | 210,412 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments & Other | 6,339 | 6,339 | 6,339 | 6,339 | 6,339 | 6,339 | 6,339 | 6,339 | 6,339 | 6,339 | 6,339 | 6,339 | 477,582 | 419,631 | 6,339 |
| Debtors (Due After 1 year) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Fixed Assets | 1,878,549 | 1,753,083 | 1,809,568 | 1,361,664 | 1,207,309 | 1,200,777 | 1,053,988 | 1,043,510 | 1,024,815 | 1,020,634 | 965,973 | 530,337 | 971,736 | 1,004,776 | 632,513 |
| Stock & work in progress | 6,750,059 | 6,570,898 | 7,719,538 | 4,370,574 | 4,388,055 | 4,753,593 | 3,689,154 | 3,913,339 | 3,335,585 | 3,650,595 | 3,236,639 | 3,588,029 | 3,575,456 | 2,810,638 | 2,447,280 |
| Trade Debtors | 6,725,426 | 4,756,667 | 4,629,242 | 5,492,489 | 4,549,472 | 4,107,195 | 3,769,252 | 3,485,115 | 3,167,564 | 2,724,538 | 2,380,125 | 2,477,034 | 2,454,122 | 2,482,605 | 2,261,670 |
| Group Debtors | 0 | 65,510 | 10,370 | 0 | 12,704,904 | 11,827,524 | 10,616,758 | 8,159,706 | 6,987,127 | 4,596,940 | 2,718,206 | 0 | 0 | 0 | 0 |
| Misc Debtors | 580,239 | 377,861 | 121,444 | 40,277 | 151,077 | 34,898 | 50,037 | 39,510 | 36,955 | 14,623 | 19,183 | 127,555 | 36,854 | 15,967 | 28,483 |
| Cash | 3,397,600 | 4,191,683 | 1,190,013 | 1,569,520 | 3,462,171 | 676,089 | 647,843 | 234,549 | 469,543 | 264,978 | 293,692 | 1,312,138 | 943,479 | 723,935 | 702,938 |
| misc current assets | 4,900,673 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total current assets | 22,353,997 | 15,962,619 | 13,670,607 | 11,472,860 | 25,255,679 | 21,399,299 | 18,773,044 | 15,832,219 | 13,996,774 | 11,251,674 | 8,647,845 | 7,504,756 | 7,009,911 | 6,033,145 | 5,440,371 |
| total assets | 24,232,546 | 17,715,702 | 15,480,175 | 12,834,524 | 26,462,988 | 22,600,076 | 19,827,032 | 16,875,729 | 15,021,589 | 12,272,308 | 9,613,818 | 8,035,093 | 7,981,647 | 7,037,921 | 6,072,884 |
| Bank overdraft | 0 | 0 | 0 | 0 | 2,701,693 | 2,146,761 | 2,639,524 | 0 | 2,360,617 | 2,168,843 | 1,952,963 | 0 | 0 | 0 | 0 |
| Bank loan | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,784,939 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 634,710 | 546,240 | 1,168,470 | 922,101 | 438,704 | 678,367 | 416,675 | 592,930 | 685,733 | 454,068 | 376,638 | 495,821 | 478,911 | 472,681 | 428,630 |
| Group/Directors Accounts | 556,205 | 445,000 | 186,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other short term finances | 0 | 0 | 0 | 0 | 0 | 1,148 | 78,660 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other current liabilities | 2,212,415 | 1,512,748 | 1,664,076 | 1,738,593 | 1,290,272 | 1,370,242 | 1,015,055 | 1,044,429 | 862,044 | 713,247 | 744,327 | 1,053,758 | 572,668 | 694,517 | 577,672 |
| total current liabilities | 3,403,330 | 2,503,988 | 3,018,546 | 2,660,694 | 4,430,669 | 4,196,518 | 4,149,914 | 4,422,298 | 3,908,394 | 3,336,158 | 3,073,928 | 1,549,579 | 1,051,579 | 1,167,198 | 1,006,302 |
| loans | 0 | 0 | 0 | 0 | 3,000,000 | 1,500,000 | 2,000,000 | 0 | 0 | 0 | 0 | 0 | 900,000 | 1,700,000 | 3,000,000 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accruals and Deferred Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| provisions | 210,513 | 170,076 | 195,231 | 117,581 | 78,105 | 71,191 | 129,145 | 96,087 | 132,695 | 135,856 | 0 | 0 | 0 | 0 | 0 |
| total long term liabilities | 210,513 | 170,076 | 195,231 | 117,581 | 3,078,105 | 1,571,191 | 2,129,145 | 96,087 | 132,695 | 135,856 | 0 | 0 | 900,000 | 1,700,000 | 3,350,112 |
| total liabilities | 3,613,843 | 2,674,064 | 3,213,777 | 2,778,275 | 7,508,774 | 5,767,709 | 6,279,059 | 4,518,385 | 4,041,089 | 3,472,014 | 3,073,928 | 1,549,579 | 1,951,579 | 2,867,198 | 4,356,414 |
| net assets | 20,618,703 | 15,041,638 | 12,266,398 | 10,056,249 | 18,954,214 | 16,832,367 | 13,547,973 | 12,357,344 | 10,980,500 | 8,800,294 | 6,539,890 | 6,485,013 | 6,029,567 | 4,170,222 | 1,715,970 |
| total shareholders funds | 20,618,703 | 15,041,638 | 12,266,398 | 10,056,249 | 18,954,214 | 16,832,367 | 13,547,973 | 12,357,344 | 10,980,500 | 8,800,294 | 6,539,890 | 6,485,013 | 6,029,567 | 4,170,222 | 1,715,970 |
| Dec 2023 | Dec 2022 | Dec 2021 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 | Mar 2014 | Mar 2013 | Mar 2012 | Mar 2011 | Mar 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||
| Operating Profit | 6,392,270 | 5,260,205 | 4,028,077 | -10,188,229 | 3,899,270 | 3,804,237 | 3,017,814 | 2,100,288 | 2,805,399 | 2,974,559 | 2,467,581 | 691,533 | 2,525,007 | 2,309,910 | 1,870,418 |
| Depreciation | 84,604 | 82,276 | 56,798 | 130,442 | 114,530 | 102,166 | 88,452 | 73,394 | 61,460 | 48,424 | 51,131 | 56,134 | 43,699 | 44,588 | 55,454 |
| Amortisation | 86,259 | 74,722 | 50,878 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Tax | -950,114 | -619,428 | -533,354 | -419,710 | -723,862 | -689,139 | -513,295 | -554,021 | -420,984 | -388,814 | -607,185 | -268,062 | -601,874 | -701,453 | -494,262 |
| Stock | 179,161 | -1,148,640 | 3,331,483 | -17,481 | -365,538 | 1,064,439 | -224,185 | 577,754 | -315,010 | 413,956 | -351,390 | 12,573 | 764,818 | 363,358 | 2,447,280 |
| Debtors | 2,105,627 | 438,982 | -12,644,397 | -11,872,687 | 1,435,836 | 1,533,570 | 2,751,716 | 1,492,685 | 2,855,545 | 2,218,587 | 2,512,925 | 113,613 | -7,596 | 208,419 | 2,290,153 |
| Creditors | 88,470 | -622,230 | 729,766 | 483,397 | -239,663 | 261,692 | -176,255 | -92,803 | 231,665 | 77,430 | -119,183 | 16,910 | 6,230 | 44,051 | 428,630 |
| Accruals and Deferred Income | 699,667 | -151,328 | 373,804 | 448,321 | -79,970 | 355,187 | -29,374 | 182,385 | 148,797 | -31,080 | -309,431 | 481,090 | -121,849 | 116,845 | 577,672 |
| Deferred Taxes & Provisions | 40,437 | -25,155 | 117,126 | 39,476 | 6,914 | -57,954 | 33,058 | -36,608 | -3,161 | 135,856 | 0 | 0 | 0 | 0 | 0 |
| Cash flow from operations | 4,156,805 | 4,708,720 | 14,136,009 | 2,383,865 | 1,906,921 | 1,178,180 | -107,131 | -397,804 | 282,641 | 183,832 | -678,622 | 851,419 | 1,093,991 | 1,242,164 | -2,299,521 |
| Investing Activities | |||||||||||||||
| capital expenditure | 0 | 655,367 | -87,069 | 55,619 | -3,474 | -17,477 | |||||||||
| Change in Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -471,243 | 57,951 | 413,292 | 6,339 |
| cash flow from investments | 0 | 655,367 | 384,174 | -2,332 | -416,766 | -23,816 | |||||||||
| Financing Activities | |||||||||||||||
| Bank loans | 0 | 0 | 0 | 0 | 0 | 0 | -2,784,939 | 2,784,939 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | 111,205 | 259,000 | 186,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Short Term Loans | 0 | 0 | 0 | 0 | -1,148 | -77,512 | 78,660 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long term loans | 0 | 0 | -3,000,000 | -3,000,000 | 1,500,000 | -500,000 | 2,000,000 | 0 | 0 | 0 | 0 | -900,000 | -800,000 | -1,300,000 | 3,000,000 |
| Hire Purchase and Lease Commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other long term liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| share issue | |||||||||||||||
| interest | 150,747 | 2,614 | 636 | -64,448 | -112,846 | -127,896 | -241,350 | -206,031 | -207,370 | -191,694 | -5,524 | 1,218 | -27,468 | -53,565 | 4,173 |
| cash flow from financing | 261,952 | 261,614 | -11,363,929 | -1,183,200 | 1,386,006 | -485,728 | -941,509 | 2,615,516 | -204,209 | -327,550 | 753,781 | -903,025 | -877,788 | -418,205 | 8,451,814 |
| cash and cash equivalents | |||||||||||||||
| cash | -794,083 | 3,001,670 | -2,272,158 | -1,892,651 | 2,786,082 | 28,246 | 413,294 | -234,994 | 204,565 | -28,714 | -1,018,446 | 368,659 | 219,544 | 20,997 | 702,938 |
| overdraft | 0 | 0 | -2,701,693 | -2,701,693 | 554,932 | -492,763 | 2,639,524 | -2,360,617 | 191,774 | 215,880 | 1,952,963 | 0 | 0 | 0 | 0 |
| change in cash | -794,083 | 3,001,670 | 429,535 | 809,042 | 2,231,150 | 521,009 | -2,226,230 | 2,125,623 | 12,791 | -244,594 | -2,971,409 | 368,659 | 219,544 | 20,997 | 702,938 |
durite limited Credit Report and Business Information
Durite Limited Competitor Analysis
Perform a competitor analysis for durite limited by selecting its closest rivals, whether from the WHOLESALE AND RETAIL TRADE; REPAIR OF MOTOR VEHICLES AND MOTORCYCLES sector, other large companies, companies in CO12 area or any other competitors across 12 key performance metrics.
durite limited Ownership
DURITE LIMITED group structure
Durite Limited has no subsidiary companies.
Ultimate parent company
SAFE FLEET ACQUISITION CORP
#0148947
2 parents
DURITE LIMITED
00373113
durite limited directors
Durite Limited currently has 4 directors. The longest serving directors include Mr John Knox (Mar 2021) and Mr Steven Powell (Nov 2022).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr John Knox | United States | 59 years | Mar 2021 | - | Director |
| Mr Steven Powell | United Kingdom | 47 years | Nov 2022 | - | Director |
| Mr Robert Willing | United States | 56 years | Feb 2024 | - | Director |
| Mr Brian Olsen | United Kingdom | 55 years | Apr 2024 | - | Director |
P&L
December 2023turnover
25.4m
+13%
operating profit
6.4m
+22%
gross margin
40.8%
+3.79%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2023net assets
20.6m
+0.37%
total assets
24.2m
+0.37%
cash
3.4m
-0.19%
net assets
Total assets minus all liabilities
durite limited company details
company number
00373113
Type
Private limited with Share Capital
industry
45310 - Wholesale trade of motor vehicle parts and accessories
incorporation date
March 1942
age
82
incorporated
UK
ultimate parent company
accounts
Full Accounts
last accounts submitted
December 2023
previous names
gordon equipments limited (July 2018)
hygrade products limited (April 1991)
accountant
-
auditor
HW FISHER LLP
address
durite works valley road, dovercourt, essex, CO12 4RX
Bank
BANK OF AMERICA
Legal Advisor
-
durite limited Charges & Mortgages
A charge, or mortgage, refers to the rights a company gives to a lender in return for a loan, often in the form of security given over business assets.
We found 2 charges/mortgages relating to durite limited. Currently there are 0 open charges and 2 have been satisfied in the past.
durite limited Companies House Filings - See Documents
| date | description | view/download |
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